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Total loan: $1,000
Bassian, , Mali / Food
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Oumar Bakary's loan finished fundraising,
but these similar borrowers just need a little more help to reach their goals!
A loan helped to buy cereals for resale.
Oumar Bakary's story
Oumar Bakary is 41 years old and lives with his wives and five children in Bassian. Bassian is in the rural commune of Tiele, Baguineda sub-prefecture (Koulikoro region of the Republic of Mali). Oumar Bakary never had the chance to attend school. Instead he began buying and selling cereals - maize, beans, millet and fonio. He learnt his trade from his maternal uncle who used to be a big trader of cereals In order to satisfy the growing demands of his customers, Oumar Bakary works with the field partner, Soro Yiriwaso. This will be his sixth loan, the previous loans were all fully and correctly repaid. He plans to use his loan to buy 20 sacks of maize and 10 sacks of millet from farmer producers in Bassian and the surrounding area. He then stores the cereals for three months before selling it wholesale to retailers who come from the big towns, such as Bamako and Ouelessebougou. Oumar Bakary hopes to make a monthly average profit of 125,000 francs CFA, which will be used to repay his loan and reinvest in his cereal business.